We’ve seen more than a few mentions about the collosal fundraising power of Barack Obama’s political organization and how they may well top the one billion dollar mark for next year. But dissatisfaction from that nasty, vast Right Wing Conspiracy may be moving against him to thwart that goal. This time it comes in the form of … the AFL-CIO?

President Barack Obama faces waning enthusiasm from union members as he prepares for his 2012 re- election bid, AFL-CIO President Richard Trumka said.

“It will be more challenging this time than it was last time to motivate our members,” Trumka, 61, said in an interview today at Bloomberg’s offices in Washington.

Trumka, head of the largest U.S. labor organization, said union members are frustrated by “wasted energy” in Washington on issues that he said don’t help workers: “hysteria” about the federal deficit, a White House review of regulations and Obama’s support for free-trade agreements.

Labor leaders said in recent weeks that they would withhold financial support in next year’s election from candidates who haven’t sided with unions consistently, a move that may hurt Democrats who have relied on labor backing. The International Association of Fire Fighters has vowed to withhold campaign money from federal races, throwing its money into state-level campaigns.

Let me be among the first to offer praise to Trumka, if only for the fact that honesty is a vanishing commodity in politics today. There’s really no longer any point in pretending that you’re in this for the actual benefit of the workers, now is there? The money you collect from all of those stiffs who depend on getting a paycheck every week is actually going into the political arena rather than to helping secure the health and welfare of the employees, and it’s high time you just came out and admitted it.

Then again, it’s hard to imagine how much of a complaint Trumka could have with Obama. He’s stacked the NLRB with union executives, essentially gone to war with Boeing on behalf of the unions, and done everything possible to back-door a Card Check policy at every opportunity. I’m not sure how much more he wants. But the message is clear: put our money where your mouth is or it stays on the bench.